Business

T-bill rates at lowest in four weeks

WASHINGTON — Interest rates on short-term Treasury bills fell in Monday’s auction to the lowest levels in four weeks.

The Treasury Department auctioned $30 billion in three-month bills at a discount rate of 0.085 percent, down from 0.095 percent last week. Another $27 billion in six-month bills was auctioned at a discount rate of 0.140 percent, down from 0.145 percent last week.

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The three-month rate is the lowest since three-month bills averaged 0.080 percent four weeks ago on April 23. The six-month rate is the lowest since those bills averaged 0.130 percent, also April 23.

The discount rates reflect that the bills sell for less than face value. For a $10,000 bill, the three-month price was $9,997.85 while a six-month bill sold for $9,992.88.

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The average yield for one-year Treasury bills edged up to 0.20 percent last week from 0.18 percent the previous week.

Associated Press

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